Selling your silver for cash is a great way to earn extra cash while you dispose of the items you do not need. This may be anything from old jewelry pieces that you no longer wear or other items that you would like to get rid of. Aptly put, there are many reasons why you may want to sell silver online that include the following:
- It is a fast, convenient and easy way to make money.
- Your silver items may be outdated in terms of their fashion sense hence you are looking to upgrade to the pieces that are up to date.
- You may have inherited the silver pieces and need to convert them into money you can use for other projects.
While there are many options of selling, the whole process can be overwhelming especially if you do not have adequate knowledge on buying and selling precious metals.
Well, here are a couple of things you need to know before you set out to sell your silverware.
What Type Of Silver Do You Have
Silver comes in many forms. It can be found in so many pieces from flatware to jewelry and coins among other things that we buy. As such, it is not surprising that you have old silverware lying on your dresser or jewelry that you no longer wear.
Before you set out to obtain cash for silver, it is important that you first understand they kind of silver that is in your possession. This is usually based on the purity of your silver items where silver is graded by the percentage of silver they have as shown by the hallmark.
Generally, fine silver will be stamped 999 on the hallmark to show that is 99% pure. This type of silver is considered too soft for jewelry. On the other hand, sterling silver is that comprises of 92.5% silver and 7.5% copper will have its hallmark stamped 925.
Some silver pieces that may not have a hallmark may be an indication that the item is merely silver-plated. However, there are also some older items that are made of sterling silver but do not have a hallmark. Therefore, do not dismiss your priced piece too soon.